"CEX Listings: 98% Dumped, 54% Pump, 89% Dump"

Centralized exchange (CEX) listings have long been seen as a significant milestone for crypto projects, promising increased exposure, liquidity, and price surges. However, the reality often follows a predictable pattern: a sharp initial pump, followed by a more dramatic dump. A recent study by CryptoNinjas, in collaboration with Storible, analyzed the top 6 major CEXs (Binance, Bybit, Upbit, etc.) to uncover the actual impact of CEX listings on token prices, revealing just how fleeting the benefits can be.

The study found that 98% of Binance-listed tokens are eventually dumped, with the exchange having the most positive impacts on price, pumping tokens by 87% on average. On average, CEX listing pumps tokens by 54%, while 89% of CEX listed tokens are dumped.

The methodology involved gathering all tokens listed in 2024 from six major CEXs, totaling 389 tokens. The price at listing, current price (at Feb 4th, 2025), and ATH price of collected tokens were collected. The data was gathered between Feb 2nd and Feb 4th, 2025.

The initial surge upon listing is largely driven by FOMO (fear of missing out) and deep liquidity, as traders rush to buy the token before it skyrockets further. On average, newly listed tokens experience a 54% price surge upon listing. A staggering 37% of newly listed tokens hit their all-time high (ATH) at the time of listing, never reaching such valuations again.

While the initial surge creates excitement, the sell-off that follows is almost inevitable. Our findings reveal that 89% of listed tokens experience a significant price drop post-listing, with an average decline of 52% from their peak at CEX listing. This pattern suggests that many traders view CEX listings as exit opportunities rather than long-term investments.

Different exchanges have varying impacts on token performance. Our research compares six major exchanges—Binance, Coinbase, Upbit, OKX, Bithumb, and Bybit—to assess their influence on token prices.

Binance remains the most influential CEX for token listings, delivering the strongest initial pump but also the most severe dumps. Tokens listed on